MIRA INFORM REPORT

 

 

Report No. :

328653

Report Date :

24.06.2015

 

IDENTIFICATION DETAILS

 

Name :

DERMATECH INTERNATIONAL LIMITED

 

 

Formerly Known As :

STARGATE IMPORT

 

 

Registered Office :

C/O Gibson Appleby1 - 3 Ship Streetshoreham-By-Seabn 43 5 DH

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

03.03.2000

 

 

Com. Reg. No.:

03939110

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Agents involved in the sale of a variety of goods

 

[Note: We tried to confirm / obtain the detailed activity but the same is not available from any sources]

 

 

No. of Employee :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

UNITED KINGDOM ECONOMIC OVERVIEW

 

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. In 2008, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Falling home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 20% by 2015. However, the deficit still remains one of the highest in the G7, standing at 5.8% in 2013. The Bank of England (BoE) implemented an asset purchase program of �375 billion (approximately $586 billion) as of December 2014. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.8%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

 

Source : CIA

 

 

Company Name and address

 

DERMATECH INTERNATIONAL LIMITED

 

Company No:

03939110

 

Registered Address:

C/O GIBSON APPLEBY1 - 3 SHIP STREETSHOREHAM-BY-SEABN43 5DH

 

 

Company Summary

 

Registered Address

C/O GIBSON APPLEBY 1 - 3 SHIP STREET SHOREHAM-BY-SEA BN43 5DH

Trading Address

1-3 Ship Street Shoreham-By-Sea West Sussex BN43 5DH

Website Address

--

 

 

Telephone Number

--

Fax Number

--

TPS

--

FPS

No

Incorporation Date

03/03/2000

 

 

Previous Name

STARGATE IMPORT

Type

Private limited with Share Capital

FTSE Index

--

Date of Change

04/04/2000

Filing Date of Accounts

30/08/2014

Currency

GBP

Share Capital

£1,000

SIC07

46190

Charity Number

--

 

 

SIC07 Description

AGENTS INVOLVED IN THE SALE OF A VARIETY OF GOODS

Principal Activity

Agency in sale of various goods.

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/12/2013

£1,119,056

£512,045

£518,367

--

31/12/2012

£1,210,820

£260,033

£569,193

--

31/12/2011

£1,409,085

£123,773

£368,023

--

 

 

Mortgage Summary

 

Total Mortgage             5

Outstanding                 3

Satisfied                       2

 

Trade Debtors / Bad Debt Summary

 

Total Number of Documented Trade                 0

Total Value of Documented Trade                    £0

 

 

Commentary

 

This company has been treated as a Small company in respect of the rating/limit generated.

The latest Balance Sheet indicates a very positive net working capital position.

The latest cash balances represent a positive level in terms of the overall outstanding creditor obligations.

This company trades in an industry with a moderate level of corporate failures.

 

 

CCJ

 

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

Total Number of Writs -

-

 

 

Total Current Directors

1

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

6

 

 

Current Directors

 

Name

Joanne Duriya Margossian

Date of Birth

03/05/1973

Officers Title

Ms

Nationality

British

Present Appointments

6

Function

Director

Appointment Date

01/01/2005

Address

Hill Farm, Bickers Hill Road, Laxfield, Suffolk, IP13 8HA

 

 

Current Company Secretary

 

Name

Joanne Duriya Margossian

Date of Birth

03/05/1973

Officers Title

Ms

Nationality

British

Present Appointments

6

Function

Company Secretary

Appointment Date

08/03/2000

Address

Hill Farm, Bickers Hill Road, Laxfield, Suffolk, IP13 8HA

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

N. MARGOSSIAN

GBP

400

ORDINARY

1

40

R. MARGOSSIAN

GBP

200

ORDINARY

1

20

MISS NICOLE MARGOSSIAN

GBP

200

ORDINARY

1

20

MISS JOANNE DURIYA MARGOSSIAN

GBP

200

ORDINARY

1

20

 

 

Profit & Loss

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

£1,119,056

-7.6%

£1,210,820

-14.1%

£1,409,085

-3.8%

£1,464,649

25.8%

£1,164,400

Export

£1,119,056

-7.6%

£1,210,820

-14.1%

£1,409,085

-3.8%

£1,464,649

25.8%

£1,164,400

Cost of Sales

-

-

-

-

-

-

-

-

-

Gross Profit

-

-

-

-

-

-

-

-

-

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

£22,000

-81%

£116,000

-73.1%

£430,750

-9.6%

£476,669

19.8%

£397,917

Operating Profit

£517,692

94.4%

£266,363

108.2%

£127,940

41.6%

£90,382

353.2%

£19,943

Depreciation

£6,184

23.5%

£5,007

48.8%

£3,365

1.3%

£3,323

-66.5%

£9,913

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

£6,735

-19.5%

£8,362

33.5%

£6,266

-

-

-

-

Pre Tax Profit

£512,045

96.9%

£260,033

110.1%

£123,773

36%

£91,036

303.3%

£22,570

Taxation

-£112,871

-91.8%

-£58,863

-109%

-£28,162

-52.7%

-£18,448

-181.9%

-£6,544

Profit After Tax

£399,174

98.4%

£201,170

110.4%

£95,611

31.7%

£72,588

352.9%

£16,026

Dividends Payable

£450,000

-

-

-

-

-

-

-

-

Retained Profit

-£50,826

-125.3%

£201,170

110.4%

£95,611

31.7%

£72,588

352.9%

£16,026

 

 

Balance Sheet

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Tangible Assets

£434,106

-5.6%

£459,843

3.9%

£442,450

-0.8%

£445,815

999.9%

£30,970

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£434,106

-5.6%

£459,843

3.9%

£442,450

-0.8%

£445,815

999.9%

£30,970

Stock

0

-

0

-

0

-

0

-

0

Trade Debtors

£75,052

-

0

-

0

-

0

-

0

Cash

£442,188

-75.7%

£1,817,290

9.5%

£1,658,997

-5.6%

£1,756,785

-7.6%

£1,900,591

Other Debtors

£25,041

-2.4%

£25,652

-15.8%

£30,470

-5.7%

£32,321

-33.4%

£48,528

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£542,281

-70.6%

£1,842,942

9.1%

£1,689,467

-5.6%

£1,789,106

-8.2%

£1,949,119

Trade Creditors

£106,764

-90.1%

£1,074,880

6%

£1,013,824

-40.5%

£1,703,142

6.6%

£1,597,264

Bank Loans & Overdrafts

£16,952

18%

£14,364

-

£14,364

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

£117,558

-71.3%

£408,962

-15.8%

£485,894

87.3%

£259,367

41.7%

£183,001

Total Current Liabilities

£241,274

-83.9%

£1,498,206

-1%

£1,514,082

-22.8%

£1,962,509

10.2%

£1,780,265

Bank Loans & Overdrafts and LTL

£233,698

-6.4%

£249,750

-5.5%

£264,176

-

0

-

0

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

£216,746

-7.9%

£235,386

-5.8%

£249,812

-

0

-

0

 

 

Capital & Reserves

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Called Up Share Capital

£1,000

-

£1,000

-

£1,000

-

£1,000

-

£1,000

P & L Account Reserve

£517,367

-8.9%

£568,193

54.8%

£367,023

35.2%

£271,412

36.5%

£198,824

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£518,367

-8.9%

£569,193

54.7%

£368,023

35.1%

£272,412

36.3%

£199,824

 

 

Other Financial Items

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Net Worth

£518,367

-8.9%

£569,193

54.7%

£368,023

35.1%

£272,412

36.3%

£199,824

Working Capital

£301,007

-12.7%

£344,736

96.6%

£175,385

201.1%

-£173,403

-202.7%

£168,854

Total Assets

£976,387

-57.6%

£2,302,785

8%

£2,131,917

-4.6%

£2,234,921

12.9%

£1,980,089

Total Liabilities

£458,020

-73.6%

£1,733,592

-1.7%

£1,763,894

-10.1%

£1,962,509

10.2%

£1,780,265

Net Assets

£518,367

-8.9%

£569,193

54.7%

£368,023

35.1%

£272,412

36.3%

£199,824

 

 

Cash Flow

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

 

Miscellaneous

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£735,113

-8.6%

£804,579

30.2%

£617,835

126.8%

£272,412

36.3%

£199,824

Number of Employees

-

-

-

-

-

-

-

-

-

 

 

Auditors

Auditor Comments

The company is exempt from audit

Bankers

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/12/13

31/12/12

31/12/11

31/12/10

31/12/09

Pre-tax profit margin %

45.76

21.48

8.78

6.22

1.94

Current ratio

2.25

1.23

1.12

0.91

1.09

Sales/Net Working Capital

3.72

3.51

8.03

-8.45

6.90

Gearing %

45.10

43.90

71.80

0

0

Equity in %

53.10

24.70

17.30

12.20

10.10

Creditor Days

34.72

323.13

261.89

423.27

499.31

Debtor Days

24.41

-

-

-

-

Liquidity/Acid Test

2.24

1.23

1.11

0.91

1.09

Return On Capital Employed %

69.65

32.31

20.03

33.41

11.29

Return On Total Assets Employed %

52.44

11.29

5.80

4.07

1.13

Current Debt Ratio

0.46

2.63

4.11

7.20

8.90

Total Debt Ratio

0.88

3.04

4.79

7.20

8.90

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

98.78

45.68

33.63

33.41

11.29

 

 

Report Notes

 

There are no notes to display.

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

17/03/2015

Annual Returns

09/09/2014

New Accounts Filed

12/03/2014

Annual Returns

21/08/2013

New Accounts Filed

21/08/2013

New Accounts Filed

29/03/2013

Annual Returns

29/08/2012

New Accounts Filed

29/08/2012

New Accounts Filed

21/04/2012

Annual Returns

19/04/2012

Mr N. Margossian has left the board

27/08/2011

New Accounts Filed

14/03/2011

Annual Returns

06/09/2010

New Accounts Filed

17/03/2010

Annual Returns

23/10/2009

New Accounts Filed

 

 

Previous Company Names

 

Date

Previous Name

04/04/2000

STARGATE IMPORT

 

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

-

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

-

Ownership Status

Ultimate Holding Company

-

 

 

Group StructureFull

 

No Group Structure

 

 

Mortgage Details

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

10/02/11

Date Charge Registered:

11/02/11

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

THE GOVERNOR & COMPANY OF THE BANK OF IRELAND

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

THE L/H PROPERTY KNOWN AS UNIT 3 PLATO PLACE, 72-74 ST DIONIS ROAD, LONDON, T/NO: NGL633467 AND BGL9993 AND ALL BUILDINGS, STRUCTURES, FIXTURES (INCLUDING TRADE FIXTURES) & FIXED PLANT & MACHINERY & EQUIPMENT FROM TIME TO TIME THEREON ALL RIGHT TITLE & INTEREST TO, & IN ANY PROCEEDS OF ANY PRESENT AND FUTURE INSURANCES OF THE PROPERTY. ANY PRESENT & FUTURE GOODWILL OF THE BUSINESS (IF ANY) & BY WAY OF FLOATING CHARGE, ALL MOVEABLE PLANT, MACHINERY, IMPLEMENTS, UTENSILS, FURNITURE & EQUIPMENT

Mortgage Type:

DEBENTURE

Date Charge Created:

10/02/11

Date Charge Registered:

11/02/11

Date Charge Satisfied:

17/05/14

Status:

SATISFIED

Person(s) Entitled:

THE GOVERNOR & COMPANY OF THE BANK OF IRELAND;

Amount Secured:

Details:

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

 

Mortgage Type:

RENT DEPOSIT DEED

 

Date Charge Created:

29/03/10

Date Charge Registered:

16/04/10

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

SVEN INVESTMENTS LIMITED

 

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE

 

Details:

THE AMOUNT STANDING FROM TIME TO TIME STANDING TO THE CREDIT OF THE DEPOSIT ACCOUNT. THE INITIAL DEPOSIT OF £5,000.00

 

Mortgage Type:

RENT DEPOSIT DEED

 

Date Charge Created:

16/06/05

Date Charge Registered:

24/06/05

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

ALLIED COMMERCIAL EXPORTERS LIMITED

 

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE

 

Details:

£26,331.75 HELD IN A DESIGNATED DEPOSITACCOUNT BY THE CHARGEE

 

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

20/10/00

Date Charge Registered:

06/11/00

Date Charge Satisfied:

16/11/01

Status:

SATISFIED

Person(s) Entitled:

THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND

Amount Secured:

£37,500.00 DUE FROM THE COMPANY TO THE CHARGEE

Details:

CASH CHARGED REGARDING A FACILITY FOR ACOMPANY VISA CARD

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

Varouge Yervant Margossian

2

1

Armenak Yacomb Simon Malconian

2

3

Nicole Margossian

0

1

Noel Margossian

0

1

COMPANY DIRECTORS LIMITED

9351

196299

TEMPLE SECRETARIES LIMITED

11623

198018

Average Invoice Value

Ł59.60

Invoices available

17

Paid

17

Outstanding

0

 

 

 

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

 

 

Within Terms

0-30 Days

31-60 Days

61-90 Days

91+ Days

Paid

17

0

0

0

0

Outstanding

0

0

0

0

0

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.64

UK Pound

1

Rs.100.41

Euro

1

Rs.71.63

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ANK

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.